Metromile has announced that Tokio Marine Holdings, one of the largest P&C insurance group in Japan, has become the first insurance carrier to license its Connected Intelligence Platform.
With this, Tokio Marine Holdings will be able to provide a frictionless customer experience at the industry’s lowest operating cost through data and automation.
Metromile aims to transform the claims and customer experience by leveraging machine learning and AI, and now seeking to license those advantages to other insurers looking to digitize, improve combined ratios, and delight their customers with seamless claims experiences. The platform currently includes two core products:
Customer Intelligence: Using advanced machine learning techniques, Customer Intelligence helps insurance carriers better target risk at an individual level across their marketing investments and throughout the policy purchase flow. It also allows for real-time underwriting on an individual customer basis.
Claims Intelligence: Harnessing machine learning to automate and identify fraud, Claims Intelligence expedites and processes the majority of auto insurance claims, drastically improving the customer experience while reducing Loss Adjustment Expense (LAE) and Loss Ratio (LR). The Claims Intelligence product is powered by AVA, Metromile’s AI claims system.